Chevron Wins Right to Explore for Shale Gas in Lithuania and 2 Other Dow Movers to Watch

Chevron Corp. has obtained a tender to explore for shale gas in Western Lithuania, according to the government on its Twitter feed on Tuesday. The Baltic country is attempting to free itself from dependence upon gas from Russia.

Chevron was the sole bidder to explore for unconventional hydrocarbons in the 1,800-square-kilometer Silute-Taurage prospect, which Lithuanian experts calculate might hold as much as 80 billion cubic meters of technically recoverable shale gas. In its twitter, the government said that, “It was decided to announce U.S. Chevron as winner of the shale gas exploration tender in Lithuania.”